上市公司前期差错自愿性更正动因实证研究
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摘要
我国现有会计准则及会计法规没有对前期差错更正时间作出强制性规定,默认为发现差错时更正。因此,上市公司往往是发现了前期差错不更正,直到监管部门查出差错时才更正,或是出于其它目的才更正。上市公司的这一行为,违背了财务报告的真实性、客观性要求,使财务报表使用者获得的会计信息失真,容易误导报表使用者。如果不予及时制止,就会严重干扰资本市场秩序。因此,有必要对上市公司前期差错自愿性更正的动因进行实证研究。
在总结国内外现有研究成果的基础上,论文概述了前期差错更正研究的基本分类及理论基础,对我国上市公司前期差错更正进行了统计性描述,发现我国上市公司非自愿性更正前期差错的现象十分普遍,研究如何促使我国上市公司自愿性更正前期差错是十分必要的。本文选取了2003-2007年披露前期差错更正的深沪上市公司,并将其分为自愿性更正和非自愿性更正两组作为研究样本,运用均值检验、相关性检验和Logistic回归检验考察了上市公司自愿性更正前期差错的动因,实证研究结果表明:差错更正方向、绝对控股与前期差错自愿性更正正相关,差错更正影响程度、资产负债率与前期差错自愿性更正负相关,而相对控股假设和收益质量假设未能通过显著性检验。针对统计性描述和实证研究结果,论文提出如下四个建议:完善企业会计准则及相关会计制度;加强企业内部控制及管理制度的建设;提高会计人员的业务素质和道德修养;加大上市公司外部监管力度。
本文的价值在于:以2003—2007年作为研究期间,研究对象是在这5年内所有进行了前期差错更正的A股上市公司,包括同时发行B股和同时发行H股的,并将其分为自愿性更正和非自愿性更正两组对自愿性更正的动因进行研究。在自愿性更正动因实证研究的研究假设中,提出差错更正方向假设、差错更正影响程度假设、绝对控股假设和相对控股假设。
The existing accounting standards and the accounting codes have not made the compulsory stipulation that when to correct the prior period errors. So it is always considered that when the prior period errors are found out. Therefore, listed companies often do not correct the prior period errors until the supervisory departments find out the errors, or correct them when they need. This behavior of the listed companies has violated the authenticity and objectivity request of financial report, which causes that the financial reporting users obtain distortive messages and misleads them. If this situation does not stop promptly, it will seriously disturb the order of capital market. Of course, it’s necessary that we study the motivations of voluntary correction by empirical study.
Based on the present study about prior period errors at home and abroad, this thesis has outlined the basic classification of the prior period errors correction and the theory foundation. It has carried on the statistical description of listed companies’prior period errors correction, and discovered that the phenomenon of listed company non-voluntarily correct prior period errors is common. It concluded that it is essential to study how to stimulate the listed company voluntarily correct the prior period errors. The listed companies which disclose the prior period errors corrections during the period from 2003 to 2007 were selected as research sample, and then divided into the voluntary correction and non-voluntary correction two groups. Then the motivations which stimulate the listed companies voluntarily correct errors was testified by methods of mean value test and multivariate linear regression. The major empirical results are summarized below: The direction of errors correction and absolute control correlated positively with it. The effect degree of errors correction and the asset-liabilities ratio correlated negatively with it. The relative control and the income quality didn’t correlate with it. Based on the statistical description and the empirical research, the paper puts forward the following four proposals: Perfect the enterprise accounting standard and related accounting system; strengthen the construction of the enterprise internal control and the control system; improve accountants' professional quality and the moral cultivation; increases the exterior supervision dynamics of the listed companies.
This article’s value lies in the object of study was A-Share Companies which have the prior period errors correction, including simultaneously publish stock B or stock H, during the period from 2003 to 2007. And they were divided into two groups the voluntary correction and the non-voluntary correction to study the motivations of voluntary correction. In the research supposition, this paper proposed that the direction of errors correction, the effect degree of errors correction, the absolutely control and the relative control.
在总结国内外现有研究成果的基础上,论文概述了前期差错更正研究的基本分类及理论基础,对我国上市公司前期差错更正进行了统计性描述,发现我国上市公司非自愿性更正前期差错的现象十分普遍,研究如何促使我国上市公司自愿性更正前期差错是十分必要的。本文选取了2003-2007年披露前期差错更正的深沪上市公司,并将其分为自愿性更正和非自愿性更正两组作为研究样本,运用均值检验、相关性检验和Logistic回归检验考察了上市公司自愿性更正前期差错的动因,实证研究结果表明:差错更正方向、绝对控股与前期差错自愿性更正正相关,差错更正影响程度、资产负债率与前期差错自愿性更正负相关,而相对控股假设和收益质量假设未能通过显著性检验。针对统计性描述和实证研究结果,论文提出如下四个建议:完善企业会计准则及相关会计制度;加强企业内部控制及管理制度的建设;提高会计人员的业务素质和道德修养;加大上市公司外部监管力度。
本文的价值在于:以2003—2007年作为研究期间,研究对象是在这5年内所有进行了前期差错更正的A股上市公司,包括同时发行B股和同时发行H股的,并将其分为自愿性更正和非自愿性更正两组对自愿性更正的动因进行研究。在自愿性更正动因实证研究的研究假设中,提出差错更正方向假设、差错更正影响程度假设、绝对控股假设和相对控股假设。
The existing accounting standards and the accounting codes have not made the compulsory stipulation that when to correct the prior period errors. So it is always considered that when the prior period errors are found out. Therefore, listed companies often do not correct the prior period errors until the supervisory departments find out the errors, or correct them when they need. This behavior of the listed companies has violated the authenticity and objectivity request of financial report, which causes that the financial reporting users obtain distortive messages and misleads them. If this situation does not stop promptly, it will seriously disturb the order of capital market. Of course, it’s necessary that we study the motivations of voluntary correction by empirical study.
Based on the present study about prior period errors at home and abroad, this thesis has outlined the basic classification of the prior period errors correction and the theory foundation. It has carried on the statistical description of listed companies’prior period errors correction, and discovered that the phenomenon of listed company non-voluntarily correct prior period errors is common. It concluded that it is essential to study how to stimulate the listed company voluntarily correct the prior period errors. The listed companies which disclose the prior period errors corrections during the period from 2003 to 2007 were selected as research sample, and then divided into the voluntary correction and non-voluntary correction two groups. Then the motivations which stimulate the listed companies voluntarily correct errors was testified by methods of mean value test and multivariate linear regression. The major empirical results are summarized below: The direction of errors correction and absolute control correlated positively with it. The effect degree of errors correction and the asset-liabilities ratio correlated negatively with it. The relative control and the income quality didn’t correlate with it. Based on the statistical description and the empirical research, the paper puts forward the following four proposals: Perfect the enterprise accounting standard and related accounting system; strengthen the construction of the enterprise internal control and the control system; improve accountants' professional quality and the moral cultivation; increases the exterior supervision dynamics of the listed companies.
This article’s value lies in the object of study was A-Share Companies which have the prior period errors correction, including simultaneously publish stock B or stock H, during the period from 2003 to 2007. And they were divided into two groups the voluntary correction and the non-voluntary correction to study the motivations of voluntary correction. In the research supposition, this paper proposed that the direction of errors correction, the effect degree of errors correction, the absolutely control and the relative control.
引文
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[2]新企业会计准则重点难点解析编写组.新企业会计准则重点难点解析.北京:企业管理出版社.2006:169-175
[3]中华人民共和国财政部.企业会计制度2001.北京:经济科学出版社.2001.2:67-68
[4]财政部会计准则委员会译.国际会计准则.北京:中国财政经济出版社.2003:73-81
[5]王巧梅.会计差错更正的成因及处理.科技创新导报.2008.14:144
[6]童皓.浅析上市公司频繁更正会计差错的成因及其规范建议.经济师.2007.5:84-85
[7]孟昊宁.会计差错产生原因及更正技巧.内蒙古科技与经济.2007.11:168-170
[8]曾艳丽.会计差错产生的原因探析.当代经济.2007.4:120-121
[9]陈璐,凌春华.会计差错更正的股票市场反应实证研究:[硕士学位论文].浙江:浙江大学2007:9-13
[10]张菊香.基于动机视角的盈余管理文献综述.审计与经济研究.2007.11:61-65
[11]李权.盈余管理的动机及手段.特区经济.2007.11:273-274
[12]中国注册会计师审计准则第1141号——财务报表审计中对舞弊的考虑.中国法制出版社. 2006:112-130
[13]张云来,王艳红.上市公司会计差错更正与盈余管理问题探析.河北职业技术学院学报. 2006.3:81-82
[14]王会兰.会计差错的更正方法及选择.财会月刊.2006.2:36-37
[15]李春燕,刘斌.中国上市公司会计差错更正动因研究:[硕士学位论文].重庆:重庆大学2006:22-34
[16]张为国,王霞.财务重述与独立审计质量.审计研究.2005.3:56-61
[17]张为国,王霞.中国上市公司会计差错的动因分析.会计研究.2004.4:24-30
[18]任春艳.上市公司盈余管理与会计准则制定.北京:中国财政经济出版社.2004:11-74
[19]蒋尧明.会计信息质量保证体系研究.南昌:江西人民出版.2004:64-72
[20]黄丽萍,贾长年.我国上市公司盈余管理手段演变分析.山西财经大学学报.2004.9:80-82
[21]王生交.上市公司盈余管理分析.经济经纬.2004.2:67-69
[22]聂顺江.会计信息质量:检验、决定及保证.北京:中国财政经济出版社.2003:1-7
[23]郭超贤.会计差错更正与我国上市公司利润操纵实证研究.事业财会.2003.4:40-42
[24]曾莉.上市公司会计差错更正的市场传导效应研究.[硕士学位论文].重庆:重庆大学. 2003.4:8-15
[25]周长青,章永奎.盈余管理测度研究综述.石家庄经济学院学报.2001.6:263-268
[26]万锋.会计差错形成原因简述.财会月刊.2001.3:46
[27]魏明海.盈余管理基本理论及其研究述评.会计研究.2000.9:37-42
[28]宋淑凤.信息不对称对证券市场的影响及解决对策.情报科学.2000.2:150-152
[29]成果,毛成杰.会计政策变更和会计差错更正的比较.会计之友. 1999.12:37-38
[30]陆建桥.中国亏损上市公司盈余管理实证研究.会计研究.1999.9:25-35
[31]Kinney W.R.Jr, L.S.Mcdaniel. Characteristics of firms correcting previously reported quarterly earnings. Journal of Accounting & Economics. 1989.11:1-93
[32]Mark L DeFond, James Jiambalvo. Incidence and Circumstances of Accounting Errors.Accounting Review. 1991(July). 66(3). 643-655
[33]Teoh, S. T. J. Wong & G. Rao. Incentives and Opportunities For Earnings Management in IPO. Review of Accounting Studies, forthcoming. 1998
[34]Siew Hong. Tech, Ivo Welch & T. J. Wong. Earnings Management and the Long-Run Market Performance of Initial Public Offerings. The Accounting Review.1998
[35]Ham.Jane, Losell.Donna, Smiellauskas.Wally. An Empirical Study of Error Characteristics in Accounting Populations. Accounting Review. 1985(July). 60(3):387-406
[36] Jane Ham, Donna Losell, Wally Smieliauskas. Some empirical evidence on the stability of accounting error characteristics over time. Contemporary Accounting Research. 1987. 4(1):210-226
[37] William R, Kinney.Jr, Zoe-Vonna Palmrose, Susan Scholz. Auditor independence and non-audit services: What do restatements suggest? Working paper. 2003
[38]Paul, John W. Do Timely Interim Reviews Lessen Accounting error? Financial Analysts Journal. 1986. 42(4):70-73
[39]K Hung Chan, Kenny Z. Lin & Phyllis Lai Lan Mo. An Empirical Study on the Impact of Culture on Audit-detected Accounting Errors. A Journal of Practice and Theory. September 2003:
[40]William R. Scott. Financial Accounting Theory. Prentice Hall.1999:
[41]Katherine Schipper. Commentary on Earnings management. Accounting Horizons.1989.12:91-102
[42] Paul M. Healy & James M. Wahlen.王学军、肖华译.盈余管理研究回顾及其对会计准则建设的启示.会计研究. 2000.11:52-60
[43]Flora Guidry, Andrew Leone, Steve Rock . Earnings-based bonus plans and earnings management by business unit managers. Journal of Accounting and Economics.1998(26):165-194
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